Fed chairperson delegate Janet Yellen states USA far from being able to taper asset purchase programme.

French and German preliminary GDP figures are published on Thursday, Germany's is expected in at 0.3% with France's at 0.1%. Italy's is expected in at -0.3%. Europe's flash GDP number is expected in at 0.2%. The ECB will publish its monthly bulletin on Thursday, whilst the UK's retail sales are expected to be flat, but could register a fall if consumers keep their hands in their pockets with Xmas being so close. Canada's trade balance is expected in at $1.2 bn for the month, whilst the USA trade balance for the month is expected in at -$34 billion, a near mirror opposite of Germany's positive €34 billion figure. Unemployment claims in the USA for the week are predicted in at 331K. The weekly oil and gas storage inventory data is published with oil expected in at a low print of 0.7. The DJIA closed up 0.45% on Wednesday, the SPX up 0.81% and the NASDAQ up 1.16%. European markets were mainly in the red; STOXX down 0.45%, CAC down 0.56%, DAX down 0.24% and UK FTSE down a substantial 1.44% after a negative reaction to the UK's BoE inflation report. Looking towards the market opening on Thursday November 14th the DJIA future is up 0.44%, SPX up 0.82% and the NASDAQ up 1.1%. The STOXX index is down 0.53%, DAX doe 0.36% and CAC down 0.55%. NYMEX WTI oil is up 0.60% at $93.60 per barrel, NYMEX nat gas is down 1.58% $3.56 per therm, COMEX gold is up 0.87% at $1282 per ounce, COMEX silver down 0.78% at $20.62 per ounce.http://blog.fxcc.com/market-analysis

Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 1.3495 (R1), break here would suggest next intraday targets at 1.3519 (R2) and 1.3542 (R3). Downwards scenario: Possible downside extension is limited now to the support level at 1.3456 (S1). Break here is required to open a route towards to next target at 1.3433 (S2) and then any further easing would be targeting final support at 1.3410 (S3).

Upwards scenario: GBPUSD is approaching our next resistive measure at 1.6079 (R1). Break here is required to initiate upside pressure towards to next target at 1.6109 (R2) and then resistance at 1.6139 (R3) acts as last attractive point for today. Downwards scenario: Possible price depreciation is limited to support level at 1.6010 (S1). Break here is required to enable possible retracement action towards to our next targets at 1.5980 (S2) and 1.5949 (S3) in potential.

Upwards scenario: We see potential of further instrument appreciation in near term perspective. Clearance of our next resistive structure at 99.79 (R1) would open way towards to next target at 100.00 (R2) and any further rise would then be targeting 100.21 (R3). Downwards scenario: Possible retracement formation is limited now to support level at 99.42 (S1). If the price manages to surpass it, we would suggest next intraday targets at 99.22 (S2) and 99.01 (S3).